New home sales could spike in 2021 as more buyers observe market recovery. December new home sales continue to spike with Clavon moving 442 units in a single weekend when it launches. The year could end with potential 10,000 units of new home sales. Most of the existing launches have crossed more than 60% sold mark and we would anticipate to continue seeing good sales as more potential buyers see the benefit of home ownership in Singapore as a long term investment to hedge against inflation in the long run. Bank rates are still relatively low and market seem optimistic with virus vaccine formulated. We would continue to see a good run in new projects in the next few years as land parcels are getting lesser with limited supply of land coming up for tender.

Source: The Business Times

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